Firstmac understands Prime Residential Securities
Since 2003, Firstmac has issued $16 billion in Residential Mortgage- Backed Securities (RMBS). In May 2015, we completed a $1 billion RMBS transaction which was the largest RMBS deal for an Australian non-bank since before the GFC.
Since then, we have regularly issued RMBS to fund our lending business.
Market acceptance of Firstmac RMBS is exceptional, with the strategy of financing high quality loans to Australian residents online delivering superior results.
Our RMBS fund High Livez provides private investors with access to a market sector which is usually limited to institutional investors. It is a bond fund secured by a pool of insured residential mortgages with no construction or development properties.
According to Firstmac CFO, James Austin, the company's solid history of successful RMBS issuances has fostered investor interest over more than a decade.
“The Firstmac bonds have been well received by an investor market keen to take up an offering with a strong track record,” he said. “Firstmac has demonstrated its ability to innovate and create opportunity in the home loan sector through the use of technology to capture market share from more traditional bricks and mortar lenders.”